"We’ll Give You 100,000 Won Per Person" These Areas Offering Support Payments Ahead of Chuseok

[Financial News] Some small cities and counties are providing support payments ahead of the Chuseok holiday. As the burden of living expenses has grown and residents’ spending power has declined amid high prices, high interest rates and high oil prices, the payments are intended to stimulate local consumption and revitalize regional economies.
Gimhae City in South Gyeongsang Province will begin providing 100,000 won per person to all Gimhae residents on the 17th under the “Gimhae Citizen Livelihood Recovery Payment” program. The budget for the payments totals 54.5 billion won. The city secured the funds by using its surplus from the previous fiscal year and its Integrated Fiscal Stabilization Fund.
Those eligible for the Livelihood Recovery Payment are people registered as residents of the city as of the 19th of last month, when the “Ordinance on Support for Gimhae Citizen Livelihood Payments” was promulgated. The recipients also include marriage immigrants, permanent residents, recognized refugees and children born during the application period.
Those applying online will receive the payment through the mobile Gimhae Love Gift Certificate, while those applying in person at an administrative welfare center in their town or township will receive a prepaid card. The payment can be used through November 30 at small-business stores with annual local sales of 3 billion won or less and at stores affiliated with the Gimhae Love Gift Certificate.
Sinan County in South Jeolla Province is also providing a Livelihood Stabilization Payment to all county residents to support household stability and revitalize the local economy. The payment is available to residents registered in Sinan County as of July 1 this year, the eligibility reference date, and amounts to 100,000 won per person.
Applications will be accepted from the 14th through October 16. To promote local consumption and revitalize commercial districts, the payment will be issued as a prepaid card that can be used only at businesses within Sinan County.
[email protected] Kim Hee-seon Reporter